This form is used to resolve any question as to how royalty is to be paid to the Parties in the event of production, under the Lease, on any part of the Lands. The Parties are entering into this Agreement to stipulate and agree to the ownership of each Party's respective share of the royalty reserved in the Lease payable for production attributable to their Interests from a well located anywhere on the Lands.
The Santa Clara California Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease is a legal document that outlines the terms and conditions for the payment of nonparticipating royalty in relation to oil and gas extraction in Santa Clara, California. This agreement is specific to situations where multiple tracts of land are covered by a single oil and gas lease, and it establishes guidelines for distributing royalty payments to nonparticipating owners. Under this agreement, the nonparticipating owners of segregated tracts covered by the oil and gas lease are entitled to receive a share of the royalty payments generated from the extraction activities. The purpose of this agreement is to ensure fair and equitable distribution of the financial benefits derived from oil and gas production across all owners, regardless of their participation in the lease agreement. Different types of the Santa Clara California Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease may exist to cater to various scenarios or specific provisions. These could include variations based on the allocation formula used for distributing the royalty payments among nonparticipating owners, the duration of the agreement, or any additional rights and responsibilities specific to the parties involved. It is important for all parties involved in oil and gas extraction activities in Santa Clara, California, to carefully review and understand the terms of the Santa Clara California Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease to ensure compliance with legal obligations and the fair distribution of royalties. Seeking legal counsel in drafting or reviewing this agreement is highly recommended protecting the interests of all parties involved.The Santa Clara California Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease is a legal document that outlines the terms and conditions for the payment of nonparticipating royalty in relation to oil and gas extraction in Santa Clara, California. This agreement is specific to situations where multiple tracts of land are covered by a single oil and gas lease, and it establishes guidelines for distributing royalty payments to nonparticipating owners. Under this agreement, the nonparticipating owners of segregated tracts covered by the oil and gas lease are entitled to receive a share of the royalty payments generated from the extraction activities. The purpose of this agreement is to ensure fair and equitable distribution of the financial benefits derived from oil and gas production across all owners, regardless of their participation in the lease agreement. Different types of the Santa Clara California Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease may exist to cater to various scenarios or specific provisions. These could include variations based on the allocation formula used for distributing the royalty payments among nonparticipating owners, the duration of the agreement, or any additional rights and responsibilities specific to the parties involved. It is important for all parties involved in oil and gas extraction activities in Santa Clara, California, to carefully review and understand the terms of the Santa Clara California Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease to ensure compliance with legal obligations and the fair distribution of royalties. Seeking legal counsel in drafting or reviewing this agreement is highly recommended protecting the interests of all parties involved.
